By Lisa Twaronite and Hideyuki Sano TOKYO (Reuters) - Asian shares shed gains on Thursday as the Chinese, Hong Kong and Australian markets slipped, while the dollar scaled a 13-year peak against the yen as it rallied on expectations the U.S. Federal Reserve will raise rates this year. Hong Kong's Hang Seng index shed 1.4 percent. Japan's Nikkei bucked the downtrend, as the weaker yen helped keep the index on track for its 10th consecutive rise, which would give it the longest winning streak since February 1988.
Pimco's flagship Total Return Fund, which lost its crown as the biggest bond fund in the world in April, had been lagging its peer intermediate-term category and benchmark after going long German bunds and shorting euros against the dollar in recent months. Not every well-established bond manager is having a bad year.
By Leika Kihara TOKYO (Reuters) - Japan's retail sales rebounded modestly in the year to April after three straight months of falls, bolstering the central bank's case that consumer spending is reviving to underpin a steady economic recovery. The data adds to signs of improvement in consumer confidence and eases pressure on the Bank of Japan to expand its massive stimulus program in the near term, analysts say. Retail sales in April rose 5.0 percent from a year earlier, trade ministry data showed on Thursday, slightly below a median market forecast for a 5.4 percent increase.